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Buy LIC Jeevan Lakshya Plan Online

We all know that life can be unpredictable, and sometimes that means being blindsided by an unexpected event. While it’s always nice to be surprised by something pleasant, surprises that are unwelcome can leave us feeling unprepared and frazzled. That’s why it’s important to make sure you and your loved ones are financially secure, so you can rest easy knowing you’re prepared for whatever life might throw your way. The LIC Jeevan Lakshya policy is an insurance plan that provides coverage and financial support for you and your family against all risks linked to your life. Uncertainties in life can crop up at any moment, So Buy LIC Jeevan Lakshya Plan Buy LIC Jeevan Lakshya Plan for the benefit of having an insurance policy to protect your loved ones.

LIC offers complete protection and security to your family through its introduction of the LIC Jeevan Lakshya Plan. This plan provides both investment and insurance benefits. In the unfortunate event of the policyholder’s death before maturity, the Jeevan Lakshya Policy offers an Annual Income benefit that can help meet the family’s needs, especially those of the children. Additionally, a lump sum amount is provided at the time of maturity regardless of whether the policyholder survives.

The Jeevan Lakshya Policy LIC Jeevan Lakshya Plan is a plan from LIC that requires regular premium payments. It is not affected by the stock market and is a traditional profit plan that offers various benefits such as insurance cover, accidental and permanent disability rider, savings, tax benefits under section 80C, tax-free maturity and death claim amounts, as well as options for loans and surrender.

  • Fixed returns with LIC and Government guarantee.
  • In case of an unfortunate event:
    a) Remaining premium waived in full.
    b) Annual income to the family.
    c) Lumpsum payment at policy term end.
  • Enhanced risk cover with accident coverage.
  • Returns independent of share market performance.
  • Tax benefits on premiums and returns.
  • Easy liquidity through policy loans and surrender.
  • Premium holiday for the last 3 years.

Key Features of LIC Jeevan Lakshya Policy

  • Premiums for the policy can be paid in yearly, half-yearly, quarterly and monthly periods and an option of Electronic Clearing Service (ECS) is also available, wherein it facilitates an easier option to pay the premiums
  • Being a With-Profits Endowment Assurance plan, this policy garners profits made by the Life Insurance Corporation of India through the Simple Reversionary Bonus and Final Additional Bonus (if applicable) and these are paid out at the end of the maturity period
LIC Jeevan Lakshya plan online

LIC Jeevan Lakshya Policy Terms and Conditions

Minimum age 18 years (Completed)
Maximum age 50 years
Maximum maturity age 65 years
Policy Term 13 years to 25years
Premium paying term Policy term -3years
Minimum Sum Assured Rs.1,00,000
Maximum Sum Assured No limit
Premium payment mode Yearly / Half yearly / Quarterly / Monthly (ECS)
Loan Eligible after 2 years
Surrender Eligible after 2 years
On Death (i) Sum Assured (If chosen, Term Rider option)
(ii) 10% of Sum Assured is paid every year till maturity of the policy term
(iii) Future premiums are waived till maturity
(iv) Sum Assured + Bonus is paid on the stipulated policy term
On Maturity Sum Assured + Bonus + Final additional bonus
Income Tax Benefits (i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount/Death claim is Non-taxable u/s 10(10d)

How does Jeevan Lakshya Plan work for you

Buy LIC Jeevan Lakshya Plan Online Illustraion LIC Jeevan Lakshya Plan Benefits

Death Benefit

When the death of the policyholder occurs before end of policy term, then the nominee will receive:

i. 10% of the Basic Sum Assured as an Annual Income Benefit from the next policy anniversary date to the policy anniversary date one year before the Maturity Date.

ii. A sum equivalent to 110% of the Sum Assured payable on maturity date.

iii. Simple Reversionary Bonus which has accumulated throughout the policy term payable on the Maturity Date

iv. Final Addition Bonus if declared by LIC payable on the Maturity Date

Maturity Benefit

As the maturity benefit of your plan, if the policy holder has paid all the premiums promptly, he/she will receive a lump sum cash value equaling the sum assured, simple reversionary benefit plus bonus upon the maturity of the policy.

Surrender Value

In the event that the policy is surrendered after a minimum of three years with all premiums paid on time, the policyholder can avail the guaranteed surrender value. The guaranteed surrender value is determined by adding up all the premiums paid up to that date.


A loan can be obtained by the policyholder once the full premium amount has been paid for a period of at least two years, and the policy has attained a surrender value.

Profit Participation

Being a participant in the policy, as a policyholder, you are eligible to receive profits from the insurance company. This eligibility entitles you to receive the Simple Reversionary Bonus and Final Additional Bonus, as declared by LIC. These bonuses will be paid to you either upon policy maturity or as the death benefit.

Income Tax Benefit

Tax benefits are applicable to all premiums paid on LIC Jeevan Lakshya policies LIC Tax Saving Plans under Sec. 80C of the Income Tax Act. Furthermore, the policyholder’s maturity amount is tax-free under Sec. 10D of the Income Tax Act.

Life Cover

If the unfortunate event of a policyholder’s death occurs:

i. According to the terms & conditions of the policy, LIC will pay out 10% of basic sum assured as annual income benefit on each anniversary date.

ii. At maturity, the assured amount equivalent of 110% of basic sum assured is paid on the policy anniversary

iii. Simple Reversionary Bonuses and Final Additional bonuses are also included in the death benefit.

iv. If the policy holder avails the New Term Assurance rider by paying an additional premium; a sum equivalent of the sum assured of the term assurance rider will be paid to the beneficiary.

Additional Benefits of LIC Jeevan Lakshya Plan


i. Benefit for Accidental Death and Disabilities
In accordance with the Accidental Death and Disability Rider Benefit, the beneficiary of the policy receives a one-time payment that is equivalent to the accidental rider benefit sum assured in the event of the insured person’s accidental death. The death benefit provided by the base plan is in addition to this sum.

The rider benefit sum assured is paid out over a ten-year period in equal monthly installments in the event of accidental disability. Moreover, all charges previously paid or to be paid in the future are postponed off.

ii. New Term Assurance Rider
The LIC New Term Assurance Rider can be selected when the policy is initiated. With this rider, the beneficiary will receive an additional term assurance sum assured amount in the unfortunate event of the policyholder’s demise during the policy tenure.

This rider option is available for a policy duration of 35 years or until the policyholder reaches 75 years of age, whichever comes first.


i. Final Addition Bonus
The Final Addition Bonus is a bonus that is paid out upon the maturity or death of the policy.

ii. Simple Reversionary Bonus
In the event that you choose to surrender the policy during the policy period, a portion of the accrued bonus will be paid to you.

Documents required for LIC policy - Online vs Offline
Buying LIC Policy Online with LICNewPolicyOnline.com Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar Zip File Address Proof Aadhar
ID Proof ID Proof Pan Card or Aadhar
Age Proof Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Buying Online Policy with LICNewPolicyOnline.com
Address Proof Aadhar
ID Proof
Age Proof
Buying A Policy Offline visiting LIC branch or through an agent
Address Proof Aadhar
ID Proof Pan Card or Aadhar
Age Proof Aadhar / Driving License
Income Proof IT Returns of last 2 years
Photo Passport Photo
Frequently Asked Questions

1. What is the maturity amount of LIC Jeevan Lakshya?

Maturity amount under Jeevan Lakshya LIC Jeevan Lakshya Benefits consists of Sum assured + Vested bonus + final additional bonus

2. What is the policy term in LIC Jeevan Lakshya?

Policy term available in Jeevan Lakshya is between 13 to 25 years

3. What is Term Rider in LIC Jeevan Lakshya?

Term rider Rider Benefits in Jeevan Lakshya is an additional Sum assured taken as a rider

4. Can I surrender my Jeevan Lakshya policy?

Certainly, you have the option to surrender the policy after a period of two years from the policy's commencement date.

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LIC Policy holders enjoy sovereign guarantee by Govt. of India

LIC policyholders enjoy a sovereign guarantee on the sum assured and the bonus declared as per section 37 of LIC Act, 1956 which clearly states that "Policies to be guaranteed by Central Government - The sum assured by all policies issued by the corporation including any bonuses declared in respect thereof and, subject to the provisions contained in section 14 the amounts assured by all policies issued by any insurer the liabilities under which have vested in the corporation under this act, and all bonuses declared in respect thereof, whether before or after the appointed day, shall be guaranteed as to payment in cash by the Central Government."